Canadian headlines about government deficits and debt can be dizzying and hard for people to grasp. A few billion here and several billion there and the natural response is for one’s eyes to glaze over in despair. But the increasing government debt has tangible and immediate consequences that affect Canadian families today and into the future.
canadian economy
Lost in the current flurry of Ontarios election campaign is the one key issue facing the province, and indeed all of Canada: Ontarios laggard economic performance is dragging down the national economy.
No normal person pays close attention to who is "in" or "out" as finance minister, and that's a good thing. It means the politician in question has avoided messing up the lives of ordinary Canadians. Still, their actions can and do matter, for better or worse.
Recently, Green Party leader Elizabeth May orchestrated an open letter to United States Secretary of State John Kerry, urging the U.S. to reject the Keystone XL pipeline. In her note, Ms. May states that she sent Mr. Kerry "4 facts about Keystone XL." Unfortunately, two of Ms. May's facts aren't actually facts, and two of her facts are so lacking in context as to constitute merely factoids.
With President Barack Obama set to deliver his State of the Union speech next week, Canadians should rightfully be worried about the implications of the Presidents policy agenda on the Canadian economy. After all, our economic fortunes are inextricably linked to those of the United States and unfortunately, the economic uncertainty being created by President Obamas policies and the increasing polarization of the U.S. political system is impeding genuine recovery in the U.S. and constraining our own prosperity.
When Canadas premiers met recently in Halifax, talks of a possible pipeline to move oil from Alberta to eastern Canada dominated national headlines. There was also mention of talks about trade, immigration, skills training, and infrastructure. One issue that didnt receive nearly as much attention is the management of public finances and growing government debt.